Law and regulation

Two former National Planning Corporation brokers "are just normal dudes and they just screwed up," says a lawyer for one of the men.

The head of a global standards-setting body argues that regulators overreacted to the financial crisis and says banking-style regulation is a poor fit for the asset management industry.

Goldman Sachs, which is looking to issue ETFs this year, hired BlackRock veteran Tony Kelly as head of product development for that unit.

The world’s biggest investment managers have won a reprieve from plans to label them as systemically important, staving off tougher regulation, as global authorities reassess the move.

With roughly half of American marriages ending in divorce, advisors are likely to find themselves helping clients navigate the process. Financial advisor and divorce expert Michelle Fox warns advisors not to make clients promises they may not be able to keep.

Labor Secretary tells skeptical lawmakers fiduciary proposal is a needed investor protection, as industry representatives contend rules would force them out of retirement segment.

Ideal Asset Management CEO Rahul Shah says the bond between advisor and client is strengthened best through proven performance.

Regulators are seeking to ensure that post-crisis rules and monetary policy aren’t creating a toxic brew that’ll explode amid a sudden exit by investors.

The brokerage model as the industry knows it may be pushed aside by a future fiduciary standard.

Complacency is the latest threat facing federal employees.

Debra Ann Paton worked in the brokerage unit of First Tennessee Bank in Johnson City, Tenn. She was expelled for allegedly filing phony expense reports.

SEC Commissioner Kara Stein is worried that mutual fund sector is moving beyond the reach of the regulators.

Power has shifted to the advisor, who is acting as the portfolio manager, ignoring intermediaries and going directly to the fund managers or assets they want in their portfolio models.

A FINRA arbitration panel ruled in Merrill's favor and against the former wirehouse advisor, although one arbitrator dissented in awarding the firm about $200,000 in attorney's fees.

The three were expelled for stealing from their employer in different ways, including kiting checks and claiming to make ATM withdrawals they never really made.

We have listened to numerous warnings about cyber threats and data breaches. We've been urged to secure networks and prepare response plans in anticipation of an attack, but as we've seen countless times in the news, some businesses have learned the hard way.

The lobby group's proposal calls for more disclosure, but does not mandate all material facts be revealed, or that the client truly grasp the pertinent issues, writes Ron Rhoades.

Industry leaders believe the plan isn't ready.

SEC sends contradictory message, critics say, urging the public's vigilance yet displaying leniency to a deceitful advisor.

The industry's main lobbying group issued its own fiduciary proposal in an attempt to stave off efforts by the Labor Department to impose a rule separate from the SEC's efforts.